RJ adds two Davidson teams with $460M in total assets

Raymond James Financial Services Inc. said that two teams of advisers in Washington state have joined the independent-contractor firm from D.A. Davidson & Co.

R.C. Roland and his sons, Chad and Blair Roland, have opened a Spokane Valley office, operating as the RDH InvestmentGroup.

Gary Douvia and Clarke Henley started a satellite office in Colville, Wash., run as the Henley Group.

Together, the five advisers had annual production of more than $2.8 million and managed more than $460 million in client assets at Davidson, Raymond James said in a statement.

The advisers made the jump last month. Raymond James announced the move last week.

D.A. Davidson “is a very good firm, but we wanted to go independent. I think that’s where the future is,” R.C. Roland said in an interview.

As a larger firm, Raymond James offers a more comprehensive technology platform, he said.

“We were buying Advent [Software Inc.’s] Axys software to supplement what we had” at Davidson, Mr. Roland said, but Raymond James includes performance reporting in its platform.

Chad Roland and the Henley Group also do significant 401(k) business and will receive a higher payout on retirement plan business as a result of going independent, R.C. Roland said.

D.A. Davison was “very nice” about the departures, he said. “They didn’t harass us at all.”

Mr. Roland said that he is a 15-year veteran of Davidson, while Mr. Douvia has 18 years at the firm and Mr. Henley 16 years. Chad Roland was with Davidson for 10 years, and Blair Roland worked there for almost two years, he said.

E-mail Dan Jamieson at [email protected].